Oklo (NYSE:OKLO) Trading Down 5.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 5.4% on Tuesday . The stock traded as low as $96.60 and last traded at $96.9380. 11,046,501 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 16,282,818 shares. The stock had previously closed at $102.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating on shares of Oklo in a research report on Friday. Seaport Res Ptn raised Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. B. Riley raised their price objective on Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Finally, Barclays set a $146.00 price objective on Oklo in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.13.

Oklo Stock Down 5.4%

The stock has a fifty day simple moving average of $92.94 and a 200 day simple moving average of $93.59. The firm has a market capitalization of $15.15 billion, a P/E ratio of -179.51 and a beta of 0.76.

Oklo (NYSE:OKLO) last released its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jacob Dewitte sold 3,455 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $100.01, for a total transaction of $345,534.55. Following the completion of the transaction, the chief executive officer directly owned 825,764 shares of the company’s stock, valued at approximately $82,584,657.64. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $76.97, for a total transaction of $397,088.23. Following the completion of the sale, the chief financial officer owned 196,913 shares in the company, valued at approximately $15,156,393.61. The trade was a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,461,172 shares of company stock worth $127,295,722 over the last quarter. Insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. bought a new stake in Oklo in the 3rd quarter worth approximately $27,000. Gables Capital Management Inc. purchased a new position in shares of Oklo in the third quarter valued at $28,000. Nemes Rush Group LLC purchased a new position in shares of Oklo in the third quarter valued at $28,000. CI Investments Inc. increased its position in Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after purchasing an additional 179 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Oklo during the third quarter valued at $33,000. 85.03% of the stock is owned by institutional investors.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.